How To Manage HMRC Debts

Are your HMRC debts causing you problems?

HMRC can be an aggressive creditor if you do not manage them. In recent years they have become more active in issuing threats to companies for not keeping up with payment plans. However, in the current climate they are taking a more lenient approach given the huge economic problems being faced by businesses from the impact of Covid-19.

You need to act fast and responsibly to deal with this threat to your company.

Communication is key to maintaining creditors and other stakeholders’ confidence. This can be lost rapidly with delay, turning a manageable problem into a full-blown crisis.

If you would like to discuss our services please book your free consultation now!

Book Now

Here Is What You Can Do:

  • Negotiate a time to pay arrangement. You will need to show that the company will be able to pay the debt over the agreed time period. A cashflow forecast is important to back your case and give your creditors and you the confidence of being able to meet your promises. It is also essential to protect you in case the business is or becomes insolvent.
  • Put money into the business to settle the debts
  • Have a clear and convincing recovery plan that demonstrates how you can continue to trade profitably and generate sufficient positive cashflow to pay off the debts over a realistic period of time
  • Another option is to consider an insolvency process to protect the company and you as director from legal action by HMRC or other creditors.
  • Different options are available depending on the company’s circumstances such as CVA, Administration, Pre-pack Administration, which can deal with all the debts and creditors legally and in a properly controlled way so that you and the company can draw a line and restart trading in the future, free from the burden of the historic debts.

The key is to act early and secure the help of turnaround experts who are working on your side and can make sure you take the right steps to manage your way out of a potential crisis.

We will discuss these with you during our free consultation.
We will work out the best option for you, with you.

Contact us now for your free consultation.

READY TO TALK? 

If you'd like to talk to us or discuss any of our services please call us on  07866 767967 email us contact@claritytransformation.co.uk  or book a call using the button below.

Book A Call

CLIENT TESTIMONIALS

"Obi is unique combining the skills of a CEO and a CFO. Obi understands businesses and how to make them fly. He is highly intelligent, personable and achieves results. The sort of person that you want on your team."

- Justin Boyce-Cam, Partner BDO, Australia 

“He gets things done through his highly collaborative management style and with persuasive leadership. I have seen Obi inspire clinical engagement and gain buy-in from executive peers and divisional leadership teams – often in highly charged or challenging situations. He will take an integrated approach to often conflicting goals by linking finance, quality and operational priorities to deliver sustainable financial, quality and operational improvements.”

- NHS CEO  - South East 

“Obi is highly intelligent. He understands how hospitals work and this allows him to deliver results. He will gain buy in and co-operation from clinicians, finance and operations to ensure your goals are achieved. He has a wealth of experience to draw upon in order to transform services, save money and engage staff - I needed a solution rather than a series of quick short-term wins – Obi delivered this, and I would definitely engage him again if the need arose.”

- NHS CEO  - North East 

"I worked with Obi on a senior leadership project for an international hospital. It was a pleasure to work with someone who has the same strong work ethic! He was professional, extremely knowledgeable and added immense value to the project."

- Tracy Bedwell, MD of global M&D company

Obi is a person who can make a real difference through his ability to understand the key challenges involved in a turnaround or business improvement situation. He can work with stakeholders to both formulate a turnaround or improvement plan but most importantly to get buy in and actually deliver the plan. He has experience of a wide variety of industries primarily with SME's in the private sector and in the NHS in the public sector.

Stephen Burke, FD and Transformation Specialist

I have worked with Obi on a number of projects and found him to be diligent, well informed, highly experienced and able to follow through and deliver his work. I would certainly recommend him for any consulting engagements.

Jonathan Webb, CEO Clarity Associates Ltd

I have known and worked with Obi for the last ten years on a number of different projects in the NHS. All of these assignments have been complex, challenging and have required clinical, operational and financial changes to be made at pace. What sets Obi apart is his ability to take people with him through these changes and to communicate them clearly and appropriately to those impacted. The client is always disappointed when the work is complete as Obi is a joy to work with and has a passion for ensuring that the changes made are sustainable and management teams and their staff develop their capabilities/capacity along the way.

Iain Alexander - Partner, PwC, Leader Government & Health Industries Restructuring  

In these mad times it's great to find someone who can help you out of looming financial trouble so I was delighted to be introduced to Obi who brought clarity to my complex network of businesses. Once things became more settled, I expected to need to find someone else to review the growth and expansion plans for my media business, but again Obi was an invaluable consultant on a whole range of financial and business growth issues. Now pleased to work with him as our outsourced FD on contract.

Jack Chew, CEO Physio Matters, Therapy Live and Chews Health